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California Affordable Housing Update

Looking for answers to questions about the future of affordable housing in the radically changed economic climate? While California's housing became less expensive during the Great Recession, affordable housing became much more difficult to build during that time. As investor demand for low income housing tax credits dropped, new strategies needed to be developed to finance affordable projects. Other sources of affordable housing also experienced setbacks, as the Palmer and Patterson cases constricted local government's ability to require construction of affordable housing through inclusionary housing ordinances. Massive amounts of redevelopment housing funds, a critical source of local funding for affordable housing, were diverted to solve the state budget crisis, and critics charged that much of the remaining funds were not being spent properly. As the state recovers from the recession, major changes are unfolding in the affordable housing industry. Listen to an affordable housing developer, economist and attorney describe the changes that have occurred, and how they will affect the creation of affordable housing in California.


Runtime: 91 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

The Impact of the Recession on Affordable Housing Development in California

  • What Is a Tax Credit, and How Does It Become Affordable Housing?
  • The Status of the Tax Credit Investor Market
  • Increasing Competition for 9 Percent Tax Credit Allocation - Winning Tiebreaker Strategies
  • Multifamily Bond/4 Percent Tax Credit Financing - Coming Back From the Dead?
  • Status of Other State and Federal Financing Tools

Trends in Inclusionary Housing Ordinances After Palmer and Patterson

  • Changes to Inclusionary Housing Policies for Rental Developments - Moving From Mandated Affordable Housing Production to a Development Fee Model
  • Nexus Studies - How to Establish the Relationship Between Market Rate Housing Construction and the Need for Affordable Housing
  • Developer Challenges to Inclusionary Housing Ordinances - Are Requirements Vulnerable to Regulatory Takings Challenges for Going Too Far?

Redevelopment Affordable Housing - a Flexible Funding Source Under Attack

  • Effect of Governor's Proposal to Eliminate Redevelopment Agencies
  • Status of Housing Funds After State Take of Funds, Passage of Proposition 22
  • Media and Legislative Reports on Misuse and Nonuse of Funds, Excessive Administrative Costs
  • Cerritos Case Upholding Creative Dealmaking for Creation of Affordable Housing
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Course

This course was last revised on February 24, 2011.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Jon E. Goetz

Jon E. Goetz – Moderator

Kronick Moskovitz Tiedemann & Girard

  • Of counsel with Kronick Moskovitz Tiedemann & Girard
  • More than 25 years of experience practicing in land use, real estate, environmental, redevelopment, affordable housing and municipal law
  • Considerable expertise in prevailing wages, having advised public agencies and developers of housing and commercial projects
  • Member of numerous professional and civic organizations
  • J.D. degree, cum laude, Harvard Law School; B.A. degree, magna cum laude, University of California, San Diego
  • Can be contacted at 805-786-4302 or [email protected]
Kathleen H. Head

Kathleen H. Head

Keyser Marston Associates

  • Managing principal with Keyser Marston Associates
  • Assisted with more than 100 public sector clients on affordable housing transactions, strategies, policies and programs
  • Works with more than 20 public agencies in creating inclusionary housing programs and establishing in-lieu fees
  • Participant in crafting California Affordable Housing legislation and policies
  • Member of California Redevelopment Association Housing Committee
  • B.A. and master’s degree, University of California, Los Angeles
  • Can be contacted at [email protected]
Benjamin Phillips

Benjamin Phillips

Mercy Housing California

  • Vice president and regional director, Southern California Region, Mercy Housing California
  • Mercy Housing was named the 5th largest affordable housing developer in the U.S. by Affordable Housing Finance magazine
  • President, Southern California Association of Non-Profit Housing
  • Awarded Social Change and Diversity Award by American Planning Association, Los Angeles Section
  • Awarded Affordable Housing Finance Project of the Year for St. Vincent’s Affordable Housing in Santa Barbara
  • Responsible for the creation of nearly 2,000 affordable homes in 25 rental, condominium, and cooperative housing developments during the last 20 years
  • Can be contacted at [email protected]
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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  • State Specific Credit Tracker
  • Members Only Newsletter
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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 387403
Published 2011
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